Guideline Value for VIGNESWARA NAGAR 3RD STREET

Vigneswara Nagar 3rd Street guideline value

The current guideline value of Vigneswara Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of Vigneswara Nagar 3rd Street has changed

The guideline value for Vigneswara Nagar 3rd Street has seen significant changes over the years. The 2017 revision set the guideline value at Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002. Therefore, the only recorded revisions for this street are from 2017 and 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Vigneswara Nagar 3rd Street.

• Vigneswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar Main Street: Rs 2,200 per sq.ft (2024)
• V.G.P. West Part Main Road: Rs 5,500 per sq.ft (2024)
• Vijaya Nagar: Rs 2,200 per sq.ft (2024)
• V.G.P.South Part - VIII: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswara Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Vigneswara Nagar 3rd Street?

The Sub Registrar Office that covers Vigneswara Nagar 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate the stamp duty and registration fees payable to the government.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value helps in establishing a fair price for the transaction and aids in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vigneswara Nagar 3rd Street?

The current guideline value of Vigneswara Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Vigneswara Nagar 3rd Street?

Vigneswara Nagar 3rd Street is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total cost of Rs 1,98,000 in fees.

Where can I find the Sub Registrar Office for this street?

The Neelankarai Sub Registrar Office covers Vigneswara Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.